Malema’s farms, proceeds of fraud and corruption

Front Nasional SA

Malema’s farms, proceeds of fraud and corruption
Malema's farms, proceeds of fraud and corruption. Photo: Front Nasionaal SA

Dec 25, 2011, Suspended ANC Youth League leader Julius Malema has added a massive R4m farm to his property portfolio.

Gwama Properties, a company partly owned by Malema’s ­Ratanang Family Trust, bought the farm Schuilkraal, 139ha of prime agricultural land near Polokwane in August. The farm was ostensibly bought for cash as no bond was registered. Schuilkraal is Malema’s second farm. In July the Ratanang Family Trust also owned a smallholding on the farm Palmietfontein, which was bought for R900 000 in cash.

March 19, 2013 The Asset Forfeiture Unit of the NPA was granted a forfeiture order for Schuilkraal belonging to Mr Julius Malema as part of a money laundering scheme,” spokesman Medupe Simasiku said in a statement.

Jun 10, 2013, Julius Malema’s R4m Schuilkraal farm is set to go under the hammer to help settle his R16m Sars debt.

June 14, 2013 Malema’s cabbage and tomato farm in Limpopo has been auctioned for R2.5 million. The uncontested bid was made by Calli Calitz from Wencor Holdings, an abattoir in Polokwane, the SABC reported today. The 140 hectare Limpopo farm was seized by the Asset Forfeiture unit earlier this year.

The property was allegedly acquired with the proceeds of fraud and corruption.The farm, worth about R4 million, boasts a four bedroomed house, an enclosed patio and a swimming pool. Last month the expelled ANC Youth League leader’s half-built Sandown mansion, was sold for R5.9 million.The auctions are all in a bid to pay off his R16 million tax bill.

Malema still owes the South African Revenue Services R9 million following the sale of the Sandown mansion.

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SOURCEFront Nasional SA